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Cotton stays unchanged in Karnataka amid limited spinning mills' demand

28 Jun 2022 5:32 pm
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NEW DELHI, June 28 (Commoditiescontrol) - Cotton prices ruled flat in the mandis of Karnataka for the second consecutive day on Tuesday amid limited demand from spinning mills, while daily arrivals remained steady.

According to traders, ICE cotton futures quoted firm in electronic trading today, while local prices stayed unchanged as domestic mills are buying cotton only as per the requirement amid weak demand in yarn. However due to the fall in the production of cotton in the current season, mills of the state are left with the cotton stock of less than a month's consumption on an average, while the ginners are not selling the bales by reducing the price. Moreover, the arrival of new cotton crop in the mandis of the state will start in September-October. In such a situation, prices may remain move in a limited range ahead. As far as weather is concerned, it is clear in the cotton producing areas of the state.

A total 100 bales (1 bale -170 kg) of cotton arrived in the state's mandis today, unchanged from a day before.

In the state mandis, the price of cottonseed was Rs 3,600 to Rs 4,300 and that of cotton was Rs 10,000 to Rs 11,000 per quintal today.

The price of 29.5/30 mm cotton quoted at Rs 96,000 to Rs, 98,000, 29.5 mm of cotton at Rs 94,000 to Rs 96,000 and 29 mm at Rs 92,000 to Rs 94,000 per candy.

SPOT COTTON COMPLEX PRICE IN KARNATAKA MARKET COTLOOK A INDEX 144.3 ICE COTTON OCT22 103.24
MARKET/VARIETY UNIT 28-Jun-2022 27-Jun-2022 AVERAGE %Change US cent/lb
28-Jun 27-Jun ABS CHANGE*
Karnataka 30/30+mm (MIC 3.8-4.0) Rs/Candy 96000-98000 96000-98000 97000 97000 0 0.00 155.73-158.97
Karnataka 29.5mm Rs/Candy 94000-96000 94000-96000 95000 95000 0 0.00 152.48-155.73
Karnataka 29 mm Rs/Candy 92000-94000 92000-94000 93000 93000 0 0.00 149.24-152.48
USD / MT
Karnataka Kapas new Rs/100 KG 10000-11000 9500-11600 10500 10550 -50 -0.48 1271.78-1398.96
Karnataka Seed Rs/100 KG 3600-4300 3500-4300 3950 3900 50 1.27 457.84-546.87
Note : USD / INR 78.63
Note: 1 candy = 355.62 kg | 1 maund = 37.3kg
*Average Change is the difference between average price of current date vs previous date


(By Commoditiescontrol Bureau: +91-22-40015505)


       
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